NOTERMAN PUTBORINGEN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
NOTERMAN PUTBORINGEN
NACE 43.130, Specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€933,821
2024 · €803,553+€130,267
Equity
€3.3m
2024 · €2.7m+€623,821
Cash
€558,872
2024 · €844,718-€285,846
Balance sheet total
€4.5m
2024 · €3.7m+€757,984
Largest movements
Assets
- Tangible fixed assets +€817,850
up €817,850 (+41.3%), from €2.0m to €2.8m
of which Plant, machinery and equipment: +€850,693
- Cash -€285,846
down €285,846 (-33.8%), from €844,718 to €558,872
mainly Investment in fixed assets (net) (-€1.4m) and Contributions, distributions and other (-€310,000)
- Receivables within one year +€203,802
up €203,802 (+30.1%), from €677,498 to €881,300
of which Trade receivables: +€205,335
Equity and liabilities
- Reserves +€623,821
up €623,821 (+24.2%), from €2.6m to €3.2m
of which Tax-exempt reserves: +€330,235
- Current portion of long-term debt +€110,863
up €110,863 (+707.7%), from €15,665 to €126,528
- Provisions +€110,078
new in 2025: €110,078
- Other debts -€65,000
down €65,000 (-9.0%), from €725,959 to €660,959
Income statement
- Gross operating margin +€236,880
up €236,880 (+11.3%), from €2.1m to €2.3m
- Depreciation +€166,058
up €166,058 (+39.7%), from €417,881 to €583,940
- Staff costs -€94,341
down €94,341 (-14.9%), from €632,328 to €537,987
- Taxes -€76,211
down €76,211 (-36.7%), from €207,869 to €131,658
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€803,553
Gross operating margin
+€236,880
Staff costs
+€94,341
Depreciation
-€166,058
Write-downs
-€10,100
Other operating charges
+€11,757
Financial income
-€1,807
Financial charges
-€878
Taxes
+€76,211
Deferred taxes and other
-€110,078
Result 2025
€933,821
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.3m
Investment
-€1.4m
Financing
-€224,137
Cash 2024
€844,718
From operations (derived)
+€1.3m
Net result for the year
+€933,821
Depreciation
+€583,940
Stocks and contracts
-€22,501
Receivables within one year
-€203,802
Deferred charges and accrued income
+€323
Provisions
+€110,078
Trade debts
-€11,347
Tax, wage and social debts
-€4,908
Other debts
-€65,000
Accrued charges and deferred income
+€19,477
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
-€224,137
Current portion of long-term debt
+€110,863
Short-term financial debts
-€25,000
Contributions, distributions and other
-€310,000
Cash 2025
€558,872
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,738,369 | €4,496,353 | +€757,984 | +20.3% |
| Fixed assets | 21/28 | €1,984,290 | €2,802,140 | +€817,850 | +41.2% |
| Tangible fixed assets | 22/27 | €1,979,933 | €2,797,784 | +€817,850 | +41.3% |
| Land and buildings | 22 | €97,353 | €97,353 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,747,049 | €2,597,742 | +€850,693 | +48.7% |
| Furniture and vehicles | 24 | €118,832 | €102,689 | -€16,143 | -13.6% |
| Leasing and similar rights | 25 | €16,699 | €0 | -€16,699 | -100.0% |
| Financial fixed assets | 28 | €4,357 | €4,357 | = | 0.0% |
| Current assets | 29/58 | €1,754,079 | €1,694,213 | -€59,866 | -3.4% |
| Stocks and contracts in progress | 3 | €222,024 | €244,525 | +€22,501 | +10.1% |
| Stocks | 30/36 | €222,024 | €244,525 | +€22,501 | +10.1% |
| Amounts receivable within one year | 40/41 | €677,498 | €881,300 | +€203,802 | +30.1% |
| Trade receivables | 40 | €592,001 | €797,336 | +€205,335 | +34.7% |
| Other amounts receivable | 41 | €85,496 | €83,964 | -€1,533 | -1.8% |
| Cash at bank and in hand | 54/58 | €844,718 | €558,872 | -€285,846 | -33.8% |
| Deferred charges and accrued income | 490/1 | €9,839 | €9,516 | -€323 | -3.3% |
| Total equity and liabilities | 10/49 | €3,738,369 | €4,496,353 | +€757,984 | +20.3% |
| Equity | 10/15 | €2,659,716 | €3,283,537 | +€623,821 | +23.5% |
| Contributions | 10/11 | €82,600 | €82,600 | = | 0.0% |
| Capital | 10 | €82,600 | €82,600 | = | 0.0% |
| Issued capital | 100 | €82,600 | €82,600 | = | 0.0% |
| Reserves | 13 | €2,577,116 | €3,200,937 | +€623,821 | +24.2% |
| Non-distributable reserves | 130/1 | €38,860 | €38,860 | = | 0.0% |
| Legal reserve | 130 | €38,860 | €38,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €142,750 | €472,985 | +€330,235 | +231.3% |
| Distributable reserves | 133 | €2,395,506 | €2,689,092 | +€293,586 | +12.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €110,078 | +€110,078 | |
| Deferred taxes | 168 | - | €110,078 | +€110,078 | |
| Amounts payable | 17/49 | €1,078,653 | €1,102,738 | +€24,085 | +2.2% |
| Amounts payable within one year | 42/48 | €1,058,039 | €1,062,647 | +€4,608 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €15,665 | €126,528 | +€110,863 | +707.7% |
| Financial debts | 43 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Credit institutions | 430/8 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Trade debts | 44 | €239,768 | €228,421 | -€11,347 | -4.7% |
| Suppliers | 440/4 | €239,768 | €228,421 | -€11,347 | -4.7% |
| Taxes, remuneration and social security | 45 | €26,648 | €21,739 | -€4,908 | -18.4% |
| Taxes | 450/3 | €1,304 | €1,445 | +€140 | +10.8% |
| Remuneration and social security | 454/9 | €25,344 | €20,295 | -€5,049 | -19.9% |
| Other amounts payable | 47/48 | €725,959 | €660,959 | -€65,000 | -9.0% |
| Accrued charges and deferred income | 492/3 | €20,614 | €40,091 | +€19,477 | +94.5% |
| Non-recurring operating income | 76A | - | €500,000 | +€500,000 | |
| Remuneration, social security and pensions | 62 | €632,328 | €537,987 | -€94,341 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417,881 | €583,940 | +€166,058 | +39.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,100 | €0 | +€10,100 | |
| Other operating charges | 640/8 | €25,619 | €13,862 | -€11,757 | -45.9% |
| Gross operating margin | 9900 | €2,099,634 | €2,336,514 | +€236,880 | +11.3% |
| Operating profit (loss) | 9901 | €1,033,906 | €1,200,726 | +€166,820 | +16.1% |
| Financial income | 75/76B | €2,324 | €517 | -€1,807 | -77.7% |
| Recurring financial income | 75 | €2,324 | €517 | -€1,807 | -77.7% |
| Financial charges | 65/66B | €24,808 | €25,686 | +€878 | +3.5% |
| Recurring financial charges | 65 | €24,808 | €25,686 | +€878 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €1,011,423 | €1,175,557 | +€164,135 | +16.2% |
| Transfer from deferred taxes | 780 | - | €14,922 | +€14,922 | |
| Transfer to deferred taxes | 680 | - | €125,000 | +€125,000 | |
| Income taxes | 67/77 | €207,869 | €131,658 | -€76,211 | -36.7% |
| Profit (loss) for the period | 9904 | €803,553 | €933,821 | +€130,267 | +16.2% |
| Transfer from tax-exempt reserves | 789 | - | €44,765 | +€44,765 | |
| Transfer to tax-exempt reserves | 689 | €105,250 | €375,000 | +€269,750 | +256.3% |
| Profit (loss) for the period to be appropriated | 9905 | €698,303 | €603,586 | -€94,717 | -13.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.